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Nigeria’s House of Representatives Secures N61.5 Billion in Oil Funds Recovery

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The House of Representatives’ Public Accounts Committee (PAC) has successfully recovered an additional N11.49 billion from oil and gas companies in Nigeria. This recovery brings the total amount retrieved to N61.5 billion following ongoing efforts to hold companies accountable for unpaid funds.....KINDLY READ THE FULL STORY HERE▶

The recent recovery includes funds from several oil companies, such as Platform Petroleum Ltd, Midwestern Oil and Gas, Seplat Energies, and Aradel Holdings. The funds include $182,057.44 (N291.29 million) from Platform Petroleum Ltd., $730,889.37 (N1.17 billion) from Midwestern Oil and Gas, N1.58 billion from Seplat Energies, and $3.9 million (N6.1 billion) from Aradel Holdings. Additionally, $500,000 (N775 million) was retrieved from Network Exploration & Production, and $1 million (N1.55 billion) from Shoreline Resources Ltd.

The PAC’s efforts are based on findings from the Auditor-General’s reports and information from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which have guided the committee’s engagements with these companies.

However, some oil firms, including Neconde Energy Ltd, Heirs Holdings, and AITEO Ltd, have failed to attend hearings despite numerous invitations. These companies collectively owe over $384 million and N325.7 million to the federal government. Among the defaulters, Neconde Energy owes $110.5 million, while Heirs Holdings owes $137.7 million.

PAC Chairman, Rep. Bamidele Salam, issued a stern warning to defaulting companies, stating that any attempts to evade responsibility will not be tolerated. He emphasized that companies withholding government funds face serious consequences, including the potential revocation of their licenses.

The ongoing recovery efforts underscore the committee’s commitment to ensuring transparency and accountability within the Nigerian oil and gas sector.

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Tears For A Titan: Family Unveils Emotional Three-Day Funeral Plan For Iconic Actor Kola Oyewo!.

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The funeral arrangements for the celebrated Nigerian actor, theatre scholar, and traditional ruler, Chief Dr. Adekola Gabriel Oyewo (Kola Oyewo), have been finalized by his family, with interment scheduled for Friday, August 7, 2026, in Osun State. The veteran actor passed away at age 80, leaving behind a legacy as a prominent figure in stage, television, and academia.....KINDLY READ THE FULL STORY HERE▶

The three-day farewell, organized by the Balogun Oyekola Oyewo Memorial Committee, follows this schedule:

  • Wednesday, August 5, 2026: A wake-keep and service of songs will be held at St. Mary’s Catholic Church, Igboya, Ile-Ife.

  • Thursday, August 6, 2026: A commendation mass is scheduled at St. Mary’s Catholic Church, followed by an artistes’ night at the Obafemi Awolowo University (OAU) Oduduwa Hall. An exhibition celebrating his works and photographs will also open at the Pit Theatre, African Studies Building, OAU, running through Friday.

  • Friday, August 7, 2026: After a morning departure from his residence, a requiem mass will take place at St. Joseph Catholic Church, Oba-Ile. He will be laid to rest in a private ceremony at 12:45 p.m. at Labaluyegbe Villa, followed by a reception at Aderonmu Grammar School Field.

The Bangbola Oyewo family of the Ese-Ola Royal House remembered him as a beloved family man, traditional leader, and an inspiration to generations of theatre practitioners. His passing is regarded as the end of an era for the Nigerian theatre community, where he served as an Associate Professor of Drama and a long-standing mentor.

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Nation In Shock! Herders’ King Brutally Murdered: Cops Race Against Time To Catch Killers!.

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Authorities have initiated a comprehensive investigation into the murder of Risku Mohammed, the Benue State Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), and his associate, Yakubu Isa. The two men were reportedly ambushed by unidentified attackers near Ahimeni in the Okodu area while traveling back from a peace summit in Otukpo.....KINDLY READ THE FULL STORY HERE▶

Benue State Commissioner of Police, Cletus Nwadiogbu, condemned the act as a “senseless and criminal” effort to destabilize local peace and security. Through PPRO DSP Udeme Edet, the Commissioner announced that tactical and intelligence teams have been mobilized to hunt down the perpetrators. CP Nwadiogbu has urged the public to avoid spreading rumors or pursuing vigilante justice, instead appealing for any useful information to be shared with the police to assist in the swift arrest and prosecution of those responsible.

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Police in Benue State are hunting for the gunmen who killed MACBAN State Chairman Risku Mohammed and Yakubu Isa. The victims were attacked near Ahimeni in the Okodu area while returning from a peace meeting in Otukpo.

State Commissioner of Police Cletus Nwadiogbu denounced the killings and vowed that the command would “leave no stone unturned” in bringing the culprits to justice. Tactical units have been deployed to the area to track down the assailants. The Commissioner extended his condolences to the bereaved families and called on residents to remain calm, law-abiding, and to report any leads to the nearest police station. He reiterated the command’s firm commitment to ensuring the safety of all citizens and holding the criminals accountable.

Option 3: Action-Oriented

Following the tragic assassination of Benue MACBAN Chairman Risku Mohammed and Yakubu Isa, the State Police Command has launched a full-scale investigation. The victims were killed by unknown assailants near Ahimeni, Okodu, following a peace engagement in Otukpo.

Commissioner of Police Cletus Nwadiogbu has directed tactical and intelligence units to track down and arrest the attackers immediately. In a public statement, the command emphasized that such criminal acts will not be tolerated and that every effort is being made to secure justice for the victims. The public is encouraged to assist the investigation by reporting any relevant information through official channels and is cautioned against fueling tensions by sharing unverified reports.

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Currency Watch: Dollar Holds Firm Against Naira At ₦1,378 Amid Economic Uncertainty!.

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On June 26, 2026, the dollar-to-naira exchange rate at the Lagos parallel market, commonly referred to as the black market, saw sellers offering the dollar at ₦1402, while buyers were purchasing it at ₦1391, according to Bureau De Change (BDC) sources. It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize this market and advises individuals to conduct foreign exchange transactions through their respective banks.....KINDLY READ THE FULL STORY HERE▶

Additionally, the CBN’s official rates for the same period ranged from a high of ₦1385 to a low of ₦1376. Please be aware that actual transaction prices may vary and might differ from the figures provided in this report.

Exchange Rate Summary (June 26, 2026)

  • Parallel Market (Selling): ₦1402

  • Parallel Market (Buying): ₦1391

  • CBN Official Rates: ₦1376 – ₦1385

What specific aspect of the current foreign exchange market or its impact on consumer trends would you like to discuss further?

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